Solution Brief | Financial Services Top Cyber Security Challenges

As the financial services industry continues to face evolving cyber threats, it’s essential to stay ahead with robust and adaptable cyber security measures. Learn about the top cyber security challenges that financial institutions face and how to overcome them with Check Point. Download the solution brief to explore proven strategies for securing financial environments.

/live_board/v2/downloads?uid=b4000f8a-dfda-4508-bc2c-eb639eff9f24&redirect=true

Y O U D E S E R V E T H E B E S T S E C U R I T Y

SECURING THE FUTURE OF FINANCIAL SERVICES Overcoming Cyber Security Challenges with Check Point Infinity Platform

Financial institutions are increasingly targeted by cyber attacks, facing an average of 1,162 attacks per week in 2023 — a 3% increase from the previous year.* With the average cost of a breach in the financial sector at $5.9 million,** there is immense pressure to secure sensitive customer data and comply with stringent regulatory requirements.

5 Top Challenges of the Financial Services Industry 1. Ensuring Regulatory Compliance and Operational Efficiency Challenge: Translating complex regulations into security frameworks, automating policy updates, and ensuring operational efficiency amidst evolving regulatory demands. Solution: Check Point Infinity Platform provides a unified management console, automating operations for improved efficiency, visibility, and control. It ensures compliance with regulations like BASEL, SOX, NIST, and GDPR, while reducing security work hours.

*Check Point. 2024 Cyber Security Report, January 2024 ** IBM. Cost of a Data Breach Report 2023, January 2024

https://www.checkpoint.com/resources/items/2024-cyber-security-report?fw=face0 https://www.ibm.com/downloads/cas/E3G5JMBP

2TOP CHALLENGES OF THE FINANCIAL SERVICES INDUSTRY

2. Securing Growing Data Centers and High-Frequency Trading Platforms Challenge: Ensuring Zero Trust, granular network segmentation, securing high-speed data transfers, and providing low latency for high-frequency transactions. Solution: Check Point Quantum Network Security; secure your network against sophisticated cyber attacks with AI-powered threat prevention, real-time global threat intelligence, unified policy management, and hyperscale networking. 3. Assuring a Secure and Compliant Cloud Migration Challenge: Managing unified security across multiple clouds, detecting and remediating misconfigurations in real time, and meeting stringent compliance requirements. Solution: Check Point CloudGuard offers a comprehensive cloud security platform that allows you to prevent threats and prioritize risks in the cloud across your applications, network, and workloads. 4. Adapting to New Technologies and Securing Remote Workforces Challenge: Implementing and securing new technologies such as blockchain, IoT banking, and digital currencies while also protecting remote users and devices. Solution: Check Point advanced threat prevention solutions and Harmony suite ensure that new technology integrations and remote work setups are secure and compliant, enhancing user productivity and security. 5. Securing Advanced e-Banking Services and Digital Footprints Challenge: Securing web applications and APIs from sophisticated attacks and transitioning from traditional channels like ATMs to digital platforms. Solution: CloudGuard WAF uses contextual AI to secure web applications and APIs against zero day threats. Check Point’s Harmony suite secures remote access, ensuring seamless transitions to digital banking.

3TOP CHALLENGES OF THE FINANCIAL SERVICES INDUSTRY

Worldwide Headquarters 5 Shlomo Kaplan Street, Tel Aviv 6789159, Israel | Tel: +972-3-753-4599

U.S. Headquarters 100 Oracle Parkway, Suite 800, Redwood City, CA 94065 | Tel: 1-800-429-4391

www.checkpoint.com

Solution Brief | Financial Services Top Cyber Security Challenges

Item Type: pdf